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Planet m

Planet m

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12/07/2015

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RETAIL MARKETING PROJECT ON PLANET M

Submitted By
Saurabh Kulkarni Nikhil Nalawade Jainarayan Sant Sharmistha Shetty 9193 9199 9206 9211

Submitted to Prof. Ashwin Kher

Introduction to Planet M
Planet M is an Indian music retail chain originally founded by ³Bennett Coleman & Co. Ltd´ (The Times Group) 1st Planet M store was inaugurated in Mumbai in the year 1999 Initially positioned purely as a Music Store with a brand statement ³Music Store Of The Universe´. Year 2003: Brand position changed to ³Music Movies & Beyond´ to reflect introduction of Home entertainment, Gaming & Digital Hardware. The Mobile segment was introduced into Planet M in May 2006 with creation of µShop In Shop¶ in selected Planet M stores. Taken over by Videocon group in Nov 2007

POSITIONING OF THE BRAND UNDER VIDEOCON Brand repositioned as ³Mobile. Movies & Mauj´ ³HINGLISH´ is the language preferred for brand promotion Post acquisition ³Small & Medium´ sized stores were introduced on a large scale Planet M currently run ³3 Formats´ namely: † Mega Stores ± 2500 sq ft & Above † Superstores ± 1000 sq ft & Above † Neighborhood Stores ± 300 to 600 sq ft & above . Music.RE.

Vision. Beliefs & Values Vision: To bring affordable feel good and indulgence into peoples in neighborhood in most upper sector or equivalent areas of the country and abroad Mission: To mirror the convergence of Music & Movies around the Mobile phones in the retail space in a manner that makes us the most preferred Retail Brand for purchase of these products Planet M is dedicated to customers Planet M believes in reaching to customers rather they coming to Planet M Neighborhood of Leading Indian Cities & Towns . Mission.

Along with this there is a growth of New Customers visiting Planet M. . Businessmen & Professionals Planet M has a very strong loyal customer base 60% of the customers visiting more than twice in 2 months.Planet M ± Customer Profiling At Planet M the rate of Impulse purchase is very high Target audience ranges mostly between Graduates & Post Graduates and also consist of Students.

Major mobile phone brands are also sold in the retail outlets. games and the other gift and apparel item retailers. In addition to the physical shops.Operation of the Retail Chain Enlarged the span of its operation and has also ventured in to the other retail sectors like the mobile phone. they have also launched the online retail shop under the same brand name. Other mobile accessories and the gaming devices are also available in the retail shops Gift items and apparels are sourced through contract manufacturing and are sold under the brand Planet M .

The product range depends upon the location as well as the demand of the products in particular outlets.Operation of the Retail Chain Contd« Planet M operates both the wholly owned retail shops as well as the franchises in the market In the big cities and the metros Planet M have wholly owned retail outlets called as the Planet M music stores with the floor area of 15002000 sq feet. they have franchises outlets. Where as the small outlets in big cities and metros are franchised In tier II and tier III cities. .

PRODUCT LINE OF PLANET M Music retailing Mobile and accessories retailing. greeting items and apparels. life style and leisure products Videocon D2H . Gaming and gaming products and accessories Gift.

With a large collection of music files of different type they offer the customers with music type of both the national as well as the international levels and artists. The major products and services covered in the outlets are: CD albums Music Video/DVD CD singles DVD Album Cassettes Online music and video contents .MUSIC RETAILING The core business of the planet m was basically the music retailing.

LG. Motorola. . the planet has also ventured into the mobile retailing segment in India.MOBILE AND ACCESSORIES RETAILING The Indian telecom sector is the fastest growing telecom sector in the world. With such a huge and fast growing market. Spice. India has passed the Chinese market as the biggest mobile handset market in the world in terms of the volume. Currently its product offering in mobile includes all the major brands like Nokia. Sony Erickson. Apple etc. Samsung.

GAMING AND GAMING PRODUCTS Planet M has a wide variety of the gaming consoles to offer. puzzles. . shooting games etc. board games. Games are categorized into different types like action games. Nintendo gaming console. Online real time gaming facilities. Microsoft Xbox and the gaming CDs . The retail outlets also sell gaming products like the gaming device like Sony play stations. racing games.

all sorts of men wear and women wears and other body accessories. . Launched products like eye gears. dolls and all the ranges of the gift items. Apparels products and life style products like the t-shirts. wrest watches etc.GIFT ITEMS AND APPARELS Planet M offers gift items like cards.

.Videocon D2H Videocon is marketing its D2H service through its Planet M outlets.

Competitive pricing. Surprise gifts and goodies on purchase and also giving occasional discounts.Marketing Strategies of Planet M Celebrity endorsement for gaining the media focus and the market exposure. Wide range of the product offerings. Stores are located in areas populated by the young people. . Attractive interior and ambience of the retail shop so as to attract youngsters.

com ebay.MAJOR COMPETITORS OF PALNET M Crossword Landmark Music World Odyssey futurebazaar.in .

ground floor.  Franchised store. .  Store is visible from all the floors of the mall.000/ As it is located in mall adequate parking is available.  The store area is approximately 300 square feet.  Approximately 200 meters from Vashi Station.  Approximate expected sales per day is around Rs. 50.A VISIT TO PLANET M STORE Location † Store  Detail Located in Centre One mall. 2nd shop from the entrance. not owned by Planet M.

home décor. Landmark. Other stores in the area are Mc Donald¶s. There are no competitors to Planet M in ³Centre One´ mall. but not in music retailing.   .Location Contd«  Details of the other stores in the area Competitor: One of the competitors of Planet M. jewelry etc.200 meters away in ³In Orbit´ mall. Pantaloons and other stores which are dealing in apparels. is located approximately 150 .

The freeform layout is illustrated below . The store area is approximately 250 ± 300 sq.Store Layout The store layout is freeform layout. The store layout allows free movement and is used to encourage people to browse and shop.ft. The merchandise is arranged in an asymmetrical manner.

Store Layout Cont« .

. The glass walls are partly covered with advertisements of current music albums and movies available. It has glass walls so that customers are able to see inside the store.Exterior Store Design Sign board is large enough to be visible from even the third floor of the mall. only has a see through shutter. The store has small entrance and has no door.

. to ensure that the customers avoid back or neck strain while reading the titles at the bottom. † Racks are placed along the walls as well as in the middle of the store area.Interior Store design Fixtures † Racks are used for storing and displaying merchandise. † The bottom of the racks were tilted at a 45 degree angle.

Interior Store design Flooring. † The store walls were painted white and had no posters or any kind of design on it as most of the wall area is covered by racks. † The floor is also used for advertising of latest music albums at the entrance. † The floor tiles are in chess board style with yellow and white colors. † The store has fall ceiling and is painted white. Ceilings and Walls The flooring is not attractive enough but the tiles are not slippery. † Adequate lighting is available in the store. † .

† The store had soft music playing in the background. . Store Atmosphere † As the store is located in a mall the air conditioner is centralized therefore the temperature in the mall was same as in the store.Interior Store design Merchandise Related Graphics † Graphics and signage were located on the racks for the convenience of the customer so that the desired product can be easily located by the customer.

00 am to 11.00 pm. . Good in store customer service.Services The store timings were from 9.

Merchandising English Music CD's Hindi Marathi Instrumental English Hindi Marathi Classic New Release Old is Gold New Release Movie CD's CD¶s and DVD¶s for Kids Nokia Samsung Mobiles & Accessories Headset Headphones Apparels T-Shirts Sony Playstation Games & Gaming Products Nintendo Gaming Console Microsoft XBOX Gift Items Mugs .

Recommendation Advertisement outside City Centre Mall Planet M shop by advertising in food court inside the mall Proper display of sales promotion posters Cream color tiles instead of white and yellow color tiles Display of apparels in appropriate place in the store Larger area store space is recommended .

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